Types of Salt Lake City property management companies
Salt Lake City property management company pricing structures
While every Salt Lake City property management company sets their own pricing, most companies tend to fall into one of two categories. They will either charge a flat rate to cover a variety of services or they will charge you a fee for each unique task performed. Let’s examine the pro’s and con’s of each type.
Flat fee pricing structure
Advantages: With flat fee pricing, you know exactly what you will be charged every month. You can take comfort knowing that all of the necessary tasks are being handled and that the cost to you won’t change based on the amount of work being done.
Disadvantages: You are paying the same amount each month regardless of what work is being done. Salt Lake City property management companies know that most of the “work” takes place when the property is vacant. Once a tenant move in, your manager is probably doing little more than processing payments and fielding the occasional maintenance call.
Fee based pricing structure
Advantages: With a fee-based structure, you only pay for work that is actually being done on your behalf. You don’t need to worry that you overpaid for the services you actually received. If you have a “low maintenance” property with good tenants, then you will likely benefit from this type of pricing.
Disadvantages: Your Salt Lake City property management costs will fluctuate based on the work required for your property. If your property requires a lot of attention or you have problem tenants, then your management costs could get out of hand.
As you can see, there are advantages and disadvantages to each type of pricing structure. The option that’s best for you will depend on the specifics of your rental property and your unique management needs. Learn more about how our pricing structure can meet your needs by clicking here.